Corn futures saw losses of 5 to 8 cents on Tuesday, with May corn trading at $4.65 3/4, down 8 cents. The CmdtyView national average cash corn price is down 5 1/2 cents, now at $4.37 1/2. As of Sunday, the U.S. corn crop is reported to be 38% planted, 4% ahead of the 5-year average and matching last year’s pace.
Monthly export figures for March indicate that 8.03 million metric tons (316.2 million bushels) of corn were exported, marking the second-largest record for the month and an 18.61% increase from February. Additionally, distillers’ exports rose by 11.84% year-over-year to 1.029 million metric tons.
Looking ahead, parts of the northern Plains, Iowa, and Wisconsin are expected to remain dry over the next week, which may support continued planting progress. In contrast, other regions including Missouri through the Eastern Corn Belt to the East Coast are forecasted to receive 1 to 3 inches of rain.
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